Georgia advanced in the Global Innovations Index
Georgia advanced in Global Innovations Index and held 59th position in the world ranking.
The rating of Georgia is 35.05 of 100. Georgia is number 3 among the countries of the region.
Compared to the last year, Georgia’s rating has improved by 9 points.
The GII ranking measures innovativeness of 126 countries of the world by means of 80 different criteria. These countries comprise 96.3% of the world GDP. The criteria include political environment, education, infrastructure and business environment.
Georgia’s best results are in the criteria of institutions – 71.9 points of 100 and 39th place. This is the criteria, which brings together political environment, the influence of regulations and business environment.
The worst rating of Georgia is in Business Sophistication criterion – with 25.7 points the country holds the 91st place. The reason for that is the following: this criterion measures workforce capabilities on the one hand and on the other hand – the readiness of the companies to retrain their staff. With this sub-criterion, the country ranks 88th in the world, since only 10.5% of the companies offer to retrain to their employees. In the criterion of educational institutions and university research collaboration, Georgia is on 105th place. The country ranks 82nd in the sub-criterion of intellectual property payments. In Georgia, intellectual property payments make only 0.2% of total trade. In the so-called ICT services imports sub-criterion Georgia is on 86th position.
In the Human Capital criterion, Georgia has 30 points of 100, thus holding 67th position. In the Infrastructure component, the country holds the 71st position with 41 points of 100.
According to the ranting, the most innovative country is Switzerland, followed by Netherlands and Sweden.
Last year, Georgia lost 4 positions in the Global Innovations Index, however, before that, the country’s position had been improving for four years.
Global Innovations Index has been published since 2012. Its purpose is to reveal global trends of innovations. It also tries to reveal and show the mechanisms, by means of which, achievement of long-term growth, productiveness, and increase of jobs is possible.